{"id":43378,"date":"2023-12-12T15:56:14","date_gmt":"2023-12-12T20:56:14","guid":{"rendered":"https:\/\/d56fg8tfg.fitnews.club\/finance\/ftc-announces-cars-rule-to-fight-scams-in-vehicle-shopping\/"},"modified":"2023-12-12T15:56:14","modified_gmt":"2023-12-12T20:56:14","slug":"ftc-announces-cars-rule-to-fight-scams-in-vehicle-shopping","status":"publish","type":"post","link":"https:\/\/d56fg8tfg.fitnews.club\/finance\/ftc-announces-cars-rule-to-fight-scams-in-vehicle-shopping\/","title":{"rendered":"FTC Announces CARS Rule to Fight Scams in Vehicle Shopping"},"content":{"rendered":"
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The Federal Trade Commission has finalized a new rule<\/a>\u00a0to fight two common types of illegal tactics consumers face when buying a car: bait-and-switch tactics and hidden junk fees. The new rule is expected to save consumers nationwide more than $3.4 billion and an estimated 72 million hours each year shopping for vehicles.<\/p>\n

The Combating Auto Retail Scams (CARS) Rule also includes clear protections for members of the military and their families, who are targeted not only with bait-and-switch tactics and junk fees, but also deceptive information about whether dealers are affiliated with the military and other specific issues that affect servicemembers.<\/p>\n

\"Combating<\/a><\/p>\n

\u201cWhen Americans set out to buy a car, they\u2019re routinely hit with unexpected and unnecessary fees that dealers extract just because they can,\u201d said FTC Chair Lina M. Khan. \u201cThe CARS Rule will prohibit exploitative junk fees in the car-buying process, saving people time and money and protecting honest dealers.\u201d<\/p>\n

The CARS Rule prohibits dealers from using bait-and-switch claims to lure vehicle buyers to the lot, including about the cost of a car or the terms of financing, the availability of any discounts or rebates, and the actual availability of the vehicles being advertised. It also tackles hidden junk fees \u2013 charges buried in lengthy contracts that consumers never agreed to pay. In some cases, these fees are for services or products that provide no benefit to consumers.<\/p>\n

Vehicles are one of the most significant purchases that American consumers make \u2013 for many, a vehicle is the single most expensive item they will ever purchase. The CARS Rule targets illegal practices that capitalize on the challenging nature of buying a vehicle, particularly the often lengthy and opaque process that can leave consumers open to scams by unscrupulous car dealers.<\/p>\n

What the CARS Rule Requires:<\/b><\/p>\n